Common use of Value of the contract Clause in Contracts

Value of the contract. 1) The value of the present contract is ……EUR <amount in figures> / …..<amount in letters>, representing the maximum total ERDF eligible value of the project according to Annex 1 - Approved application form. 2) The MA will transfer the ERDF funds on the basis of the eligible expenditures. MA will make the transfer of ERDF in the limit of the existent balance at the date of reimbursement request, and in case of insufficient funds, payment process will be suspended until the European Commission credits the program’s account with the amounts representing the ERDF funds. 3) The Lead Partner commits itself to support its own contribution and the non- eligible expenditures as well as to ensure the temporary availability of funds for the proper implementation of the project until they are reimbursed by the MA.

Value of the contract. 1) The value of the present contract is ……EUR <amount in figures> / …..<amount in letters>, representing the maximum total ERDF eligible value of the project according to Annex 1 - Approved application form. 2) - Budget of the project. The MA will transfer the ERDF funds on the basis of the eligible expenditures. MA will make the transfer of ERDF in the limit of the existent balance at the date of reimbursement request, and in case of insufficient funds, payment process will be suspended until the European Commission credits the program’s account with the amounts representing the ERDF funds. 3) . The Lead Partner Beneficiary commits itself to support its own contribution and the non- non-eligible expenditures as well as to ensure the temporary availability of funds for the proper implementation of the project until they are reimbursed by the MA.. In the case of net revenue generating projects, the partners shall respect the provisions of Article 61 of Regulation (EU) No. 1303/2013